1.If Geeta buys wood and piano wire every month to manufacture pianos in the plant she has leased for 4 years, she is operating __________.

Group of answer choices

in the long run

a vertically integrated firm

in the short run

without a production function

2.Entrepreneurs who set up firms typically do NOT __________.

Group of answer choices

allocate resources

establish supply and demand

acquire assets

organize production and distribution

3.Which of the following scenarios MOST exemplifies a benefit of economies of scale?

Group of answer choices

COSTCO sells items for less than traditional brick-and-mortar stores.

The Intaglios, a big Italian family, eat a large quantity of pasta.

Grady's Grocery Store holds weekly sales on its dairy products.

The Department of Motor Vehicles has many layers of bureaucracy.